A tech executive says AI is fueling a blue-collar production boom, not job losses
Palantir CTO Shyam Sankar is correcting critics who say artificial intelligence will cause mass unemployment, crediting his company with allowing companies to hire ‘the alternative’ to ‘The Bottom Line.’
Palantir chief technology officer Shyam Sankar told FOX Business that artificial intelligence (AI) is fueling blue-chip productivity growth — not mass unemployment as predicted by Sen. Bernie Sanders, Vt. — and said AI is accelerating hiring, training and the growth of American industries.
Sankar was a guest on “The Bottom Line” on Wednesday, where he emphasized the underreported fact that AI’s biggest benefits are not only seen among software developers but also among front-line workers like ICU nurses and factory technicians.
His interview came a day after Sanders called for slowing AI development and raised the alarm about mass unemployment in a video posted on X.
In the video, Sanders asked how people would live without money because AI and robots could create “massive unemployment” by eliminating “millions of jobs.”
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“We need all of our people, all of the people involved in determining the future of AI, not just a handful of billionaires,” he said. “That’s why, first of all, I will push to stop the creation of information centers that empower this unregulated athlete to develop and release AI. This stop will give democracy a chance to participate.”
Sankar denied those claims, saying the underreported story is that AI is a blue revolution.
He told hosts Dagen McDowell and Brian Brenberg ICU nurses and factory workers benefit even more from AI, as the foreman on the production line can spend more time on building parts than on production planning and job scheduling thanks to the new technology.
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Palantir CTO Shyam Sankar dismisses unemployment fears, saying AI is fueling blue-collar growth, rapid training and new jobs in the US as Sanders advocates a slowdown in development. (Photographer: Al Drago/Bloomberg via Getty Images)
Nurses also benefit, as they can spend more time with their patients and deliver life-saving care where minutes matter, and less time gathering information about the patient.
“We have a manufacturing customer that, because they were able to schedule production with AI, they were able to add a third shift,” Sankar said. “Unless labor utilization was at a certain level, it was not profitable to hire more American workers. Therefore, more jobs were created.”
Another example he gives is Panasonic Energy, a company in Reno, Nevada that makes batteries for electric vehicles.
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A woman walks under the sign of US software giant Palantir at their booth before the annual meeting of the World Economic Forum (WEF) in Davos on May 22, 2022. (FABRICE COFFRINI/AFP via Getty Images/Getty Images)
Apprenticeships to become a skilled battery technician for machines made by Panasonic Energy usually take three years, but with AI, the company was able to hire former casino workers in three months.
He also said that AI will have a “tremendous effect” on companies like Panasonic Energy recruiting, training and releasing talent early.
“It’s a complete propaganda schtick coming out of Silicon Valley, when they want to talk about how powerful tech is: ‘It’s too powerful it might lead to unemployment. It’s too powerful it might wipe out humanity,'” Sankar said. “And that’s just not true. This is not what you see ahead. What you see is an opportunity for American greatness.”
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A computer screen shows an image of an artificial intelligence. (iStock / Stock)
With AI in the hands of humans, the technology can lead to an explosion of new businesses. Someone can have an idea and AI will enable that person to execute it.
But that also leads to questions about whether college will be necessary for the workforce.
Sankar said he thinks colleges will have to reinvent themselves. At Palantir, he said, a meritocracy was started by high school seniors who taught them technical skills on the job.
At night and on weekends, Palantir brings in professors to provide what Sankar says is a “well-rounded” education.
“I think colleges will have to rethink this,” he said.
Sankar’s view that education must adapt to new demands has reached a broader point – that the US is making the same mistake in its AI strategy by pouring billions into data centers while ignoring the side that creates real economic value.
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“Well, I think the president has a clear direction for the introduction of programs like the Genesis mission,” he said. “We’ve invested heavily in what I call the supply side of AI, building data centers and models.
“We need to invest more in the demand side of AI,” Sankar continued. “How do we drive economic value in these models? How do these examples translate into prosperity for the average American worker? And that’s what we’re relentlessly focused on at Palantir.”
